80 East Storage
84,580 NRSF| 637 Units | Statesboro, GA
80 East Storage presents a new investor with the opportunity to acquire a fully stabilized, well-maintained cash flowing self-storage facility consisting of 84,380 NRSF situated on 5.66 +/- acres of land. 80 East Storage is comprised of 264 climate units, 349 non-climate units and 24 outdoor parking spaces for a total of 637 units. 80 East Storage offers tenants an array of quality amenities for added security and convenience, including both a well appointed leasing office and a 24 hour self-service rental kiosk, which caters to students at the three college campuses within the city.
Currently, 80 East Storage enjoys strong physical and economic occupancies of 94.6% (Area) and 75.9%, respectively. 80 East Storage also has a current monthly variance cost of approximately $13,029, which will allow a new operator to immediately and decisively realize value by increasing rates on current tenants.
Advantageously located at a four-way, signalized intersection along Highway 80 in the city of Statesboro, Georgia 80 East Storage is well positioned to continue its strong operating history. Statesboro is the home of Georgia Southern University, which has a current student enrollment of over 20,000. This asset will allow a new operator to enjoy the benefits of a stable and affluent population, with three mile annual population growth of 1.76%, which far exceeds the national average, as well as strong median and average household incomes of $66,535 and $86,146, respectively.
Further value will be realized through raising rental rates on both new and existing tenants, as well as adding ancillary income sources such as truck rentals, retail sales and a comprehensive tenant insurance program.
- 84,580 NRSF among 637 Total Units
- No New Projects in the Pipeline within Ten Miles
- Approximate Monthly Variance of $13,000
- No Needed Capex
- Excellent Visibility and Traffic Exposure at a Four Way Signalized Intersection
- Strong Physical Occupancy of 94.6%
- Significant opportunity to boost revenues by adding and improving upon secondary income streams such as tenant insurance, increased retail sales, and truck rentals
- Strong Population Growth of 1.76% in a Three-Mile Radius